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The Occupational and Personal Pension Schemes (Disclosure of Information) Regulations 2013

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Regulations [F118A] to 22 and 25(2)

SCHEDULE 7E+W+S+N.I.Information to be given by schemes that relates to accessing benefits

This schedule has no associated Explanatory Memorandum
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PART 1E+W+S+N.I.Information to be given to persons having an opportunity to select an annuity

1.  A statement that the person has an opportunity to select an annuity.E+W+S+N.I.

2.  A statement that the person has an opportunity to select the provider of the annuity.E+W+S+N.I.

3.  A statement that different annuities have different features and different rates of payment including annuities that provide—E+W+S+N.I.

(a)the same payments every year,

(b)increasing payments every year,

(c)payments only for the person,

(d)payments for the person's spouse or civil partner,

(e)a guarantee on the early death of the person.

4.  Either—E+W+S+N.I.

(a)an explanation of the characteristic features of the annuities referred to in paragraph 3, or

(b)a copy of guidance giving that explanation that has been prepared or approved by the Regulator.

5.  A statement that the person should consider taking advice about which annuity is most suitable for them.E+W+S+N.I.

PART 2E+W+S+N.I.Information on accessing benefits for members and survivors

6.  The amount of benefit that is payable.E+W+S+N.I.

7.  If benefit is payable periodically—E+W+S+N.I.

(a)any conditions for continuing to make the payments, and

(b)any provisions which would allow the payments to be altered.

8.  Any rights and options that persons have on the death of the member or beneficiary of the scheme.E+W+S+N.I.

9.  Any procedures for exercising the rights and options referred to in paragraph 8.E+W+S+N.I.

10.  The provisions (or, as the case may be, a statement that there are no provisions) under which the pension payable to the survivor of a member or beneficiary of the scheme may or will be increased and the extent to which such increases are dependent on the exercise of a discretion.E+W+S+N.I.

[F2Part 3E+W+S+N.I.Information to be Given to Members Having an Opportunity to Transfer Flexible Benefits

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

11.  A statement that the member has an opportunity to transfer flexible benefits to one or more different pension providers.E+W+S+N.I.

12.  A statement that different pension providers offer different options in relation to what the member can do with the flexible benefits, including the option to select an annuity.E+W+S+N.I.

13.  A statement that different options have different features, different rates of payment, different charges and different tax implications.E+W+S+N.I.

14.  Either—E+W+S+N.I.

(a)a copy of guidance that explains the characteristic features of the options referred to in paragraph 13 that has been prepared or approved by the Regulator; or

(b)a statement that gives materially the same information as that guidance.]

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